Tuesday, March 01, 2016

Jeffrey K. Speaks

What with Sumner Redstone now speaking in tongues and Paramount floundering and Daddy/Mommy Viacom looking for companies and/or Very Rich People coming in to invest, Jeffrey Katzenberg had a few observations:

... “I could imagine that with a good financial partner coming with us, putting together the assets of Paramount and DreamWorks could be extremely valuable,” he told attendees at the Morgan Stanley Technology, Media & Telecom Conference. “We could bring a lot to that business.” ...

Mr. Katzenberg, of course, spent his formative years at Paramount under the benevolent eyes of Barry Diller and Michael Eisner. If that seems like a lifetime ago, it's because it is. Jeffrey K. moved over to Disney in 1985, then formed DreamWorks a decade later.

Time flies when you're building empires.

Jeffrey Katzenberg has been looking to sell DreamWOrks Animation to the highest bidder for the better part of a decade. There was no way he was going to match Pixar's sale price to the Walt Disney Company, but he gave it the old college try. Unfortunately a financial meltdown got in the way. Plus there was no Perfect Storm at his back, the way there was for Steve Jobs. Disney was the only conglomerate desperate for a going animation concern. Everybody else was happy to be in theatrical cartoons, they just weren't willing to pay six or seven billion dollars to get in the game.


Unknown said...

He's been looking to dump the animation division for a while now. I wonder who Paramount would get to run it? No one in the industry thinks it would be him---that would be a terrible idea.

Steve Hulett said...

Jeffrey, I think, wants to run it himself. With a long-term employment contract.

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